Kamstrup Intends to Acquire Swedish Meter Manufacturer

Online, October 14, 2010 (Newswire.com) - Kamstrup A/S hereby announces its intent to acquire the meter manufacturer SVM Metering AB from its Swedish owner, Ledstiernan AB, who wishes to focus on other business areas.
The acquisition includes about 50 employees, all production facilities in Sweden and all of SVM's related assets.

In 2006 Kamstrup acquired the competitor Senea AB and today the Kamstrup Group holds 650 employees worldwide. With this acquisition SVM will be part of the Kamstrup Group too and the employees placed in Karlskrona and Stockholm will join the Kamstrup Group.

The main focus of Kamstrup is on business development through product-market alignment. SVM is one of very few companies which Kamstrup finds interesting as investment object.

SVM (Svensk Värmemätning) has been in the business of manufacturing and marketing meters to Swedish and international utilities for more than 60 years. Since 2001, when Ledstiernan entered as parent company, SVM has changed company structure and company name a few times, latest in 2009, when Metrima Energi was sold off and the company changed name from Metrima to the present company name SVM Metering AB.

Kamstrup has head office in Denmark and subsidiaries and sales offices throughout Europe; the Middle East and Asia. In Sweden Kamstrup has the subsidiary Kamstrup Senea AB with 45 employees. The completion of the acquisition is expected to take place before November 1.

All questions are to be directed to CEO Per Asmussen, Kamstrup A/S on tel. +45 8993 1000.

Website: http://www.kamstrup.com